The Mithril Armoury was well-known to collectors and has a solid reputation (albeit slightly mysterious) as a dealer of Tolkien-related products. It was a regular advertiser in The Tolkien Society's bi-monthly bulletin, Amon Hen.

In January 2004, Mithril Armoury was "temporarily closed", and re-opening was planned on July 1, 2004. It never re-opened, and a Chapter 7 bankruptcy was filed in October.